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Ford's President,
Vice Chairman
Plan to Retire

By

Sharon Silke Carty Dow Jones Newswires

Updated Dec. 10, 2004 12:01 a.m. ET

DETROIT -- Ford Motor Co. said two of its top brass -- President Nick Scheele and Vice Chairman Allan Gilmour -- are retiring, and Chief Operating Officer Jim Padilla will assume the position of president.

Neither retirement came as a surprise, but the moves are a sign the auto maker is in the final phase of its restructuring, which began almost three years ago. Mr. Scheele, 60 years old, has said he delayed his retirement since 2001 to oversee the company's restructuring efforts, and recently underwent hip surgery. Mr....